Korea leads foreign investors in capital addition
03-OCT-2008 Intellasia | Vietnamnet | VNA
Oct 3, 2008 - 7:00:00 AM
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The Republic of Korea (RoK) is standing first amongst 26 foreign investors that poured additional capital into their valid projects in Vietnam over the past nine months, according to the Ministry of Planning and Investment (MPI).
In the period, RoK investors added 192.7 million US dollars to 54 projects, representing 22.5% of the total capital addition to foreign operating projects in the country.
The RoK also poured 1.4 billion US dollars in 217 new projects, ranking ninth in term of capital volume.
In a meeting with Vietnam 's prime minister Nguyen Tan Dung in Hanoi in late August, RoK minister of Land, Infrastructure and Transport Chung Jong Hwan asserted that RoK businesses saw Vietnam as a destination for long-term and effective investment which has advantages of favourable investment environment and many similarities with their own country.
His view was shared by officials from the Korean Trade Investment Promotion Agency (Kotra) and the Cosmo Vietnam Company, an affiliate of the GS Group.
Hong Sun Yong from Kotra said that it is the good time now for RoK investors to start in Vietnam, following his fact-finding tour of Vietnam in late August.
Cosmo Vietnam general director Tae Eon made a similar call at the inaugurating ceremony of a plastic factory in Mekong delta Long An province's Loi Binh Nho Industrial Zone on September 23, and said his company has plans for long-term investment in the country.
The general Department of Taxation recently held a dialogue on tax policy with RoK businesses with the aim of timely removing obstacles for investors.
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